The 60th Annual Meetings of the African Development Bank (AfDB) is underway in Abidjan, Cote d’Ivoire’s economic capital, drawing over 5,000 attendees, including heads of state and government, finance ministers, central bank governors, business leaders, scholars and think tank representatives from across Africa.
“Since its establishment in 1964, the African Development Bank has profoundly transformed Africa’s economic and social landscape,” said Ivorian President Alassane Ouattara at the opening ceremony in Abidjan on Tuesday.
He highlighted the AfDB’s vital role in supporting development across the continent, noting that cooperation projects between the Bank and Cote d’Ivoire have more than doubled in scale over the past decade. Ouattara emphasized that the institution remains a key partner in implementing his country’s national development plans.
This year’s theme, “Making Africa’s Capital Work Better for Africa’s Development,” offers a platform to explore reforms and policies aimed at enhancing the efficiency of human, financial, and business capital to drive Africa’s structural transformation, Ouattara said.
“Africa possesses immense potential — a young and talented population, attractive investment opportunities, and a bright economic outlook,” he noted, calling for more effective capital deployment to accelerate the continent’s shift toward a more inclusive, green, and resilient economic model.
Ouattara also commended AfDB President Akinwumi Adesina for his leadership in promoting Africa’s development through the Bank’s High 5s initiative: Light Up and Power Africa, Feed Africa, Industrialize Africa, Integrate Africa, and Improve the Quality of Life for the People of Africa.
The meetings conclude on Friday. A key highlight is the upcoming election of a new AfDB president on Thursday. The candidates are: Amadou Hott (Senegal), Samuel Munzele Maimbo (Zambia), Sidi Ould Tah (Mauritania), Abbas Mahamat Tolli (Chad), and Bajabulile Swazi Tshabalala (South Africa).
Founded in 1964 and headquartered in Abidjan, the African Development Bank’s core mission is to foster sustainable economic development and social progress in its regional member countries. China became a member of the institution in 1985. Enditem